VANCOUVER, BC, Dec. 19,
2024 /CNW/ - Pan Global Resources Inc. ("Pan Global"
or the "Company") (TSXV: PGZ) (OTCQX: PGZFF) (FRA: 2EU) announces
that the Company's Board of Directors has approved annual grants
under the shareholder-approved Omnibus Equity Incentive
Compensation Plan of 3,150,000 incentive stock options to officers,
directors, employees, and consultants to the Company and 1,400,000
Restricted Share Units (RSUs) to senior management of the
Company.
The incentive stock options entitle the holders to purchase the
equivalent number of common shares of the Company at a price of
$0.10 per common share for a period
of five years from the date of grant. The options will vest as
follows: 25% on grant, followed by an additional 25% on each of the
6-month, 12-month, and 18-month anniversaries from the date of
grant. The RSUs will vest over 18 months from the date of grant,
with 50% vesting 12 months after the grant date, and the remaining
50% vesting on the 18-month anniversary from the date of grant.
Preparations are underway for the maiden drill program to begin
early in the New Year at the Bravo target as well as step-out
drilling at La Romana at the Escacena Project in southern
Spain. The Company is also
planning to drill several holes at the Cármenes Project north of
León, Spain, once access is
completed. More details on 2025 catalysts and corporate objectives
will be provided in early January.
About Pan Global Resources
Pan Global Resources Inc. is actively targeting copper-rich
mineral deposits, given copper's compelling supply-demand
fundamentals and outlook for strong long-term prices as a critical
metal for global electrification and energy transition. The
Company's flagship Escacena Project is located in the prolific
Iberian Pyrite Belt in southern Spain, where a favourable permitting track
record, excellent infrastructure, mining and professional
expertise, and support for copper as a Strategic Raw Material by
the European Commission collectively define a tier-one low-risk
jurisdiction for mining investment. The Pan Global team comprises
proven talent in exploration, discovery, development, and mine
operations - all of which are committed to operating safely and
with utmost respect for the environment and our partnered
communities. The Company is a member, and operates under the
principles, of the United Nations Global Compact.
On behalf of the Board of Directors
Forward-looking statements
Statements which are not purely historical are forward-looking
statements, including any statements regarding beliefs, plans,
expectations, or intentions regarding the future. It is important
to note that actual outcomes and the Company's actual results could
differ materially from those in such forward-looking statements.
The Company believes that the expectations reflected in the
forward-looking information included in this media release are
reasonable, but no assurance can be given that these expectations
will prove to be correct and such forward-looking information
should not be unduly relied upon. Risks and uncertainties
include, but are not limited to, economic, competitive,
governmental, environmental, and technological factors that may
affect the Company's operations, markets, products, and prices.
Readers should refer to the risk disclosures outlined in the
Company's Management Discussion and Analysis of its audited
financial statements filed with the British Columbia Securities
Commission.
The forward-looking information contained in this media release
is based on information available to the Company as of the date of
this media release. Except as required under applicable securities
legislation, the Company does not intend, and does not assume any
obligation, to update this forward-looking information.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX
VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
SOURCE Pan Global Resources Inc.